Is utf stock can be day trading is day trade considered as wash sale
Proxy Voting Policies. The information on this website does not constitute an offer to sell, or a solicitation of an offer to purchase, securities in any jurisdiction to any person to whom it is not lawful to make such an offer. Make loans to other persons except through the lending of securities held by it but not to exceed a value of one-third of total assetsthrough the use of repurchase agreements, and by the purchase of debt securities. Past performance is no guarantee of future results. So investors should do all they can to avoid paying tax on nonqualified dividends, right? The Investment Manager seeks to compensate portfolio managers commensurate with mrs watanabe forex learn complete price action trading responsibilities and performance, and competitive with other firms within the investment management lbank crypto exchange without kyc. Certain information reflects financial results for a single share. To qualify for the favorable U. Where securities are traded on more than one exchange and also over-the-counter, the securities will generally be valued using the quotations the Board believes most closely reflect the value of such securities. From time to time, preferred securities, including hybrid-preferred securities, have been, and may in the future be, offered having features other retail forex market size fxcm stock those described. About Schaeffer's. These limitations may unfavorably restrict the ishare high yield bond etfs take profit trading of a Fund to make certain investments. Market Price. Under current law, individuals will generally be taxed at long-term capital gain rates on qualified dividend income. During periods of declining interest rates, an issuer may be able to exercise an option to prepay principal earlier than fxcm metatrader 4 system requirements what are the best indicators for day trading which is generally known as call or prepayment risk. How excellent is that? The Proxy Administration Group is responsible for maintaining this documentation.
When you're bullish, does it make more sense to buy a call or sell a put?
The treatment of. Trading Education. Related Articles. In addition, real estate investments are relatively illiquid and, therefore, the ability of real estate companies to vary their portfolios promptly in response to changes in economic or other conditions is limited. The issuers of these securities have a currently identifiable vulnerability to default and such issues may be in default or there may be present elements of danger with respect to principal or interest. Any notice, report, statement or demand required or permitted by any provisions of this Agreement shall be in writing and shall be given by facsimile, electronic delivery i. Risk Factors. Most Popular Services. Reporting Requirements. Principal Occupation s During At. New laws and proposed new laws may adversely impact the market for lower-rated securities. Detailed information about the proposed transaction is contained in the enclosed materials. To qualify for the favorable U. The emergence of competition may result in certain companies being forced to defend their core businesses which may cause such companies to be less profitable.
If Proposal 1 is approved, RTU will not hold an annual meeting of stockholders in or. Log in or sign up in seconds. The Proxy Administration Group is also responsible for maintaining documentation supporting any votes cast against management. Other Investments. Close X. From time to time, companies will seek to contact analysts, portfolio managers and others in advance of the formal proxy solicitation to solicit support for certain contemplated proposals. Director Compensation. You also pay the dividend withholding tax depending on where the stock is listed and what country you're investing from rates could differ significantly. The remaining shares are held for the rest of the year. Companies that distribute telephone services and provide access to the telephone networks still comprise the greatest portion of this segment, but non-regulated activities what is the fastest way to buy cryptocurrency auto crypto trading as cellular telephone services, paging, data processing, equipment retailing, computer software and hardware services are becoming increasingly significant transfer google authenticator to new phone coinbase hacked trade recommendation bitcoin cash as. Each Fund is authorized to use financial leverage as part of its investment strategy.
MODERATORS
I'm not sure if this is at all actually feasible but I'd like to hear other thoughts on. These regulations are also expected to provide that excess inclusion income of a regulated investment company, such as each Fund, will be allocated to stockholders of the regulated investment company in proportion to the dividends received by such stockholders, with the same consequences as if the stockholders held the related REMIC residual interest or, if applicable, penny stock addiction how to buy pink sheet stocks etrade mortgage pool directly. However, each Fund intends to conduct its operations so as to qualify as a regulated investment company for purposes of the Code, which generally will relieve the Fund of any liability for federal income tax to the extent its earnings are distributed to stockholders. While at that site you will be able to enroll in our electronic delivery program so you receive future mailings relating to annual meetings as quickly as possible and will help the Fund s save costs. During the time portfolio securities are on loan, the borrower pays the Fund any dividends or interest paid on the securities. As a result, any corporate stockholder who otherwise would qualify for the DRD, and any individual stockholder who otherwise would bitcoin futures settlement time litecoin off coinbase to be taxed at long-term capital gain rates on qualified dividend income, should assume that none of the distributions the stockholder receives from a Fund attributable to hybrid and REIT preferred securities will qualify for the DRD or provide significant benefits under the rules relating to qualified dividend income. Each Fund utilizes leverage, which magnifies market risk. Dividend Reinvestment Plans. The value do stocks go up on ex dividend date etrade how to remove stock plan successful operation of a multifamily property may be affected by a number of factors such as the location of binary options on robinhood quantconnect live trading robinhood property, the ability of management to provide adequate maintenance and insurance, types of services provided by the property, the level of mortgage rates, presence of competing properties, the relocation of tenants to is utf stock can be day trading is day trade considered as wash sale projects with better amenities, adverse economic conditions in the locale, the amount of rent charged and oversupply of units due to new construction. Exchange-traded options are valued at their last sale price as of the close of options trading on applicable exchanges. Gas transmission companies and gas distribution companies are also undergoing significant changes. Information About Directors and Officers.
Want to use your investment losses for tax purposes? In addition, multifamily properties may be subject to rent control laws or other laws affecting such properties, which could impact the future cash flows of such properties. In the latter event, the gain would be taxed in the same manner as for a U. The Investment Manager compensate their portfolio managers based primarily on the scale and complexity of their portfolio responsibilities and the total return performance of managed funds and accounts versus appropriate peer groups or benchmarks. For purposes of the foreign tax credit limitation rules of the Code, each stockholder would treat as foreign source income his or her pro rata share of such foreign taxes plus the portion of dividends received from the relevant Fund representing income derived from foreign sources. Exchange-traded options are valued at their last sale price as of the close of options trading on applicable exchanges. For example, if for some unrelated reason you need to compute your income for only part of the year — then the wash sale, technically speaking, should not be ignored during the year. Ratio of net investment income to average daily net assets applicable to common shares net of expense reduction f. Government, its agencies or instrumentalities and such obligations that are subject to repurchase agreements and commercial paper. Investment Advisers Act of requires that the proxy-voting procedures adopted and implemented by a U. Market News. Institutional Investors. The deduction of a loss sustained on the sale of a portion of the shares of stock or other securities purchased in one lot less than 30 days before the sale will not be disallowed merely because the sale is of a part of that lot. Liquidation at times of low security prices may result in capital losses and may reduce returns to common stockholders.
Lock In Profits
The Funds may invest in countries in which foreign investors, including the Investment Manager, have had no or limited prior experience. Therefore, if the entire position is subsequently liquidated and you further remain out of the stock for the next 31 consecutive days, the entire deferred loss will generally be recognized for tax-purposes through the increase in basis used to compute the final gain or loss. Richard E. Scapell serve as the primary portfolio managers for UTF. Even if you plan to attend the Meeting, we ask that you return the enclosed proxy card s or vote by telephone or through the Internet. The Nominating Committee will consider Director candidates recommended by stockholders, provided that any such stockholder recommendation is submitted in writing to the Fund, to the attention of the Secretary, at the address of the principal executive offices of the Fund and further provided that such recommendation includes all other information specified in the charter and complies with the procedures set forth in the Nominating Committee charter. Asset coverage per share for auction market preferred shares i. Each Fund may invest in, among other things, the types of securities and instruments described below:. The information contained herein concerning each Fund has been provided by, and is included herein in reliance upon, each respective Fund. Day trading for additional income long call and long put profit off the company and cashflows. The financial results of major local employers also may have an impact on the cash flow and value of certain properties. While this may appear to create additional conflicts of interest learn how to use candlestick charts forex com trade signals the portfolio manager in the allocation of management time, resources and investment opportunities, the Investment Manager strives to ensure that portfolio managers endeavor to exercise their discretion in what is the label in binance digitex ico manner that is equitable to all interested persons. Quarter Ended.
Substantially all of the securities issued by utility companies in which a Fund invests are traded on a national securities exchange or in the over-the-counter market. The Investment Manager seeks to compensate portfolio managers commensurate with their responsibilities and performance, and competitive with other firms within the investment management industry. To change or withdraw your consent, click the "EU Privacy" link at the bottom of every page or click here. In addition, office properties that are not equipped to accommodate the needs of modern businesses may become functionally obsolete and thus noncompetitive. Share on Digg Share. New York, New York Regulators, however, lowered allowed rates of return as interest rates declined and thereby caused the benefits of the rate declines to be shared wholly or in part with customers. If a Fund makes any of the elections, the amount, character and timing of the recognition of gains or losses from the affected straddle positions will be determined under rules that vary according to the election s made. Want to join? In connection with this covenant, the parties agree to cooperate with each other in filing any tax return, amended return or claim for refund, determining a liability for taxes or a right to a refund of taxes or participating in or conducting any audit or other proceeding in respect of taxes. Over time, each Fund will distribute all of its net investment income. RTU only. Common stockholders would therefore be subject to duplicative expenses to the extent the Fund invests in other investment companies. Welcome to Reddit, the front page of the internet. Your Money. UTF: 0. All rights reserved. Each Fund has provisions in its Articles of Incorporation and By-Laws that could have the effect of limiting the ability of other entities or persons to acquire control of the Fund, to cause it to engage in certain transactions or to modify its structure. At each annual meeting of stockholders, the term of one class will expire and Directors will be elected to serve in that class for terms of three years. Interest rate risk is the risk that fixed-income securities, such as preferred and debt securities, and to a lesser extent dividend-paying common stocks, will decline in value because of changes in market interest rates.
Understand the IRS Wash-Sale Rule when Day Trading
It is reasonable to expect that any adverse economic conditions could disrupt the market for lower-rated securities, have an adverse impact on the value of those vix futures trading strategy how do you buy penny stocks on etrade, and adversely affect the ability of the issuers of those securities to repay principal and pay interest on those securities. In making investment decisions with respect to common stocks and other equity securities issued by infrastructure companies, the Investment Manager would rely on a fundamental analysis of each company. Each Committee operates pursuant to a written charter adopted by the Board. Source: Parametric. However, deregulation in any form could significantly impact the electric utilities industry. In addition, to the extent a Make money online trading forex trading groups atlanta invests in other investment companies, the Fund will be dependent upon the investment and research abilities of persons other than the Investment Manager. In addition, in the event that a tenant is in default on its lease, a new operator or purchaser at a foreclosure sale will have to apply blue chips stocks wiki both cash dividends and stock dividends: its own right for all relevant licenses if such new operator does not already hold such licenses. If the enclosed proxy is forex income taxable steve patterson forex course download is properly signed and dated and returned in time to be voted at the Meeting, the proxies named thereon will vote the shares represented by the proxy in accordance with the instructions marked thereon. Accordingly, the Funds cannot assure you that the use of leverage would result in a higher yield or return to common stockholders. Such valuation and determination shall be made by the Acquiring Fund in cooperation with the Fund and shall be confirmed in writing by the Acquiring Fund to the Fund. The Fund represents and warrants to, and agrees with, the Acquiring Fund that:. The distributions paid by a Fund for any particular quarterly period may be more or less than the amount of net investment income actually earned by the Fund during the period.
In the United States and around the world the industry is highly fragmented because most of the water utilities are owned by local authorities. Each Fund currently engages in leverage through borrowings. Investments in securities that are listed on the NYSE are valued, except as indicated below, at the last sale price reflected at the close of the NYSE on the business day as of which such value is being determined. Quarter Ended. Limited Voting Rights. Thus, the Board could authorize the issuance of preferred stock with terms and conditions that could have the effect of delaying, deferring or preventing a transaction or a change in control that might involve a premium price for holders of UTF Common Shares or otherwise be in their best interest. Create an account. In addition, in the event that a tenant is in default on its lease, a new operator or purchaser at a foreclosure sale will have to apply in its own right for all relevant licenses if such new operator does not already hold such licenses. Your Money. The Funds do not have the right to vote securities on loan, but would terminate the loan and regain the right to vote if that were considered important with respect to the investment. UTF may invest, but does not concentrate its assets, in the real estate industry. While at that site you will be able to enroll in our electronic delivery program so you receive future mailings relating to annual meetings as quickly as possible and will help the Fund s save costs. The main functions of each Contract Review Committee are to make recommendations to the Board of Directors after reviewing advisory and other contracts that the Fund has with the Investment Manager and to select third parties to provide evaluative reports and other information to the Board regarding the services provided by the Investment Manager. The Funds may invest in countries in which foreign investors, including the Investment Manager, have had no or limited prior experience. Cash bonuses, stock-based compensation awards, and adjustments in base salary are typically paid or put into effect in the January following the fiscal year-end of CNS.
Sales Load as a percentage of offering price 2. It is sometimes hard to find information on certain issuance's dividends. Pro Forma Combined Capitalization Table. All potential profits are unrealized because the position isn't partially or fully closed. Fee Table. The value and successful operation of a multifamily property may be affected by a number of factors such as the location of the property, the ability of management to provide adequate maintenance and insurance, types of services provided by the property, the level of mortgage rates, presence of competing properties, the relocation of tenants to new projects with better amenities, adverse economic conditions in the locale, the amount of rent charged and oversupply of units due to new construction. The definition of material non-public information is highly subjective. Vff finviz super adx afl amibroker Securities Risk. At the end of the year, I making money part time forex trading covered call above strike price lost several thousand dollars. If the properties do not generate sufficient income to meet operating expenses, including, where applicable, debt service, ground lease payments, tenant improvements, third-party leasing commissions and other capital expenditures, the income and ability of the real estate company to make payments of any interest and principal on its debt securities will be adversely affected. Therefore, Canadian royalty trusts typically grow through acquisition of additional oil and gas properties or producing companies with proven reserves of oil and gas, funded through the issuance of additional equity or, where the trust is able, additional debt.
Close X. Excellent links that discuss the wash sale rule: Some of these links include the opinions of their authors keep in mind that these links may not be updated and could get stale :. Such withdrawal will be effective immediately if received not less than ten days prior to a Dividend record date; otherwise, it will be effective for all subsequent Dividends. The Fund will request its shareholders to surrender their outstanding certificates representing shares of Fund Common Stock or post adequate bond therefor. Distributions of net capital gain, if any, designated as capital gain dividends are taxable to a stockholder as long-term capital gains, regardless of how long the stockholder has held shares in any particular Fund. MLPs that concentrate in a particular industry or a particular geographic region are subject to risks associated with such industry or region. Accordingly, the Funds cannot assure you that the use of leverage would result in a higher yield or return to common stockholders. The provisions may have the effect of depriving common stockholders of an opportunity to sell their shares at a premium over prevailing market prices and may have the effect of inhibiting conversion of the Fund to an open-end investment company. Financial Highlights for UTF. Income Effectively Connected. Popular Courses. For a high performing portfolio manager, cash bonuses and stock-based compensation generally are a substantial portion of total compensation. Other accounts. There can be no assurance that such new licenses could be obtained, and consequently, there can be no assurance that any healthcare property subject to foreclosure will be disposed of in a timely manner. Stock price goes down a bit, hopefully, so your call expires worthless and you keep your shares, dividend, and premium. Issuers in the utility industry may be subject to regulation by various governmental authorities in various jurisdictions and may be affected by the imposition of special tariffs and changes in tax laws, regulatory policies and accounting standards.
Such opinion will not address the effect of the Merger on i the Funds with respect to any asset as to which any unrealized gain or loss is required to be recognized for federal income tax purposes at the end of a taxable year or on the termination or transfer thereof under a mark-to-market system of accounting and ii any stockholder of RTU that is required to recognize unrealized gains and losses for federal income tax purposes under a mark-to-market system of accounting. If a Fund makes any of the elections, the amount, character and timing of the recognition of gains or losses from the affected straddle positions will be determined under rules that vary according to the election s. Kroon, Director and Lead Independent Director. Because a Fund, as a non-diversified investment company, may invest in a smaller number of individual issuers than a diversified investment company, an investment in the Fund presents greater risk to you than an investment in a diversified company. There can be no assurance that such new licenses could be obtained, best days to swing trade how to deal in forex trading consequently, there can be no assurance that any healthcare property subject to foreclosure will be disposed of in a timely manner. Shares of Common Stock Outstanding. Weekend Alert. Adam M. Currently Held. For the fiscal years ended or ending December 31, andthe Investment Manager waived or will waive its fee at portfolio insurance strategy put option best crypto coins to day trade annual rate of 0. Such expenses shall include, but not be limited to, all costs related to the preparation and distribution of the Registration Statement, proxy solicitation expenses, SEC registration fees, and NYSE listing fees. A Schaeffer's 39th Anniversary Exclusive! Ratio of expenses to average daily managed assets net of what does pe stand for in the stock market how fast can you make money with stocks reduction f,h. New Types of Securities. It is reasonable to expect that any adverse economic conditions could disrupt the market for lower-rated securities, have an adverse impact on the value of those securities, and adversely affect the ability of the issuers of those securities to repay principal and pay interest on those securities. Companies that distribute telephone services and provide access to the telephone networks still comprise the greatest portion of this segment, but non-regulated activities such as cellular telephone services, paging, data processing, equipment retailing, computer software and hardware services are becoming increasingly significant components as. At any adjourned Meeting at which a quorum is present, any action may be taken that could have been taken at the Meeting originally called. In addition, several energy companies have been accused of attempting to manipulate the price and availability of energy in certain states.
For example, a trader may open a long position after a bullish earnings announcement with a series of price targets. Many emerging market countries have experienced substantial, and in some periods extremely high, rates of inflation for many years. In addition, real property may be subject to the quality of credit extended and defaults by borrowers and tenants. Asset coverage per share for auction market preferred shares i. Under the wash-sale rule, you cannot deduct a loss if you have both a gain and a loss in the same security within a day period. Following deregulation of the energy markets in certain states, a number of companies have engaged in energy trading and incurred substantial losses. Depending upon strike selection, you may be able to profit with a sold put whether the stock rallies, edges higher, remains flat, or even pulls back slightly. This is a pretty straightforward bullish strategy, because you're expecting the stock's price to rise. Office Properties. To vote by Internet:. Shares of Registered Investment Companies. Regulators, however, lowered allowed rates of return as interest rates declined and thereby caused the benefits of the rate declines to be shared wholly or in part with customers. In order to save the Fund s any additional expense of further solicitation, please vote your proxy promptly. Notwithstanding the aforementioned provisions of this paragraph 4. In our experience, given the structure and typical trading pattern of Custom Core accounts, almost all dividends meet the minimum holding period to be qualified.
Want to add to the discussion?
Suppose that you purchase shares of Acme Co. Examples of such information include, but are not limited to:. Or stock price rises and your call exercises and you sell for profit and premium, then you either wait for the hopefull dip and buy back in or just simply buy back in. On the other hand, selling a put is technically considered to be a neutral-to-bullish strategy. Hard Stop Definition A hard stop is a price level that, if reached, will trigger an order to sell an underlying security. The stockholders of each Fund will vote separately on the Merger. Securities and instruments of infrastructure companies are more susceptible to adverse economic or regulatory occurrences affecting their industries. Berk and Peter DeMarzo really helped me understand these concepts related to dividends, share buybacks etc. To qualify for the favorable U. The Investment Manager seeks to compensate portfolio managers commensurate with their responsibilities and performance, and competitive with other firms within the investment management industry. The deduction of a loss sustained on the sale of a portion of the shares of stock or other securities purchased in one lot less than 30 days before the sale will not be disallowed merely because the sale is of a part of that lot. Become a Redditor and join one of thousands of communities. When you sell a put, you collect a premium for the sale upfront. Less dividends and distributions to preferred shareholders from:. The net asset value per share of Acquiring Fund Common Stock shall be determined in accordance with such procedures, and the Acquiring Fund shall certify the computations involved. In certain foreign jurisdictions, however, the voting of proxies can result in additional restrictions that have an economic impact or cost to the security. Even if you hire someone to do your taxes, tracking your potential liabilities as you trade can help you avoid costly mistakes. You may obtain information about the operation of the Public Reference.
Your vote is very important to us regardless of the number of shares you. To vote by Internet:. The Investment Manager do so in accordance with their judgment of the best interests of each Fund and its stockholders. A Director elected to fill a vacancy shall hold office for the remainder of the full term of the class of Directors in which the vacancy occurred and until a successor is elected and qualified. In the case of a Fund, U. From time to time, companies will seek to contact analysts, portfolio managers and others in advance of the formal proxy solicitation to solicit support for certain contemplated proposals. Codes of Ethics. Because each Fund concentrates its investments in common stocks, preferred stocks and other equity securities issued by utility companies, an investment in a Fund will be significantly impacted do you make money from acorns app dont just chase stock with big dividend the performance of the utilities industry. To qualify for the favorable Adjust cash thinkorswim rcn btc tradingview. It is important that your vote be received is pepperstone regulated in south africa futures trading strategies spreads later than the time of the Meeting. Distributions received from a Fund attributable to traditional preferred securities, other than those issued by REITs, generally would qualify for the DRD as to any corporate stockholder and generally would qualify to be taxed at long-term capital gains rates as to any individual stockholder. Ideally, you'd follow these stocks and try to figure out trends so that you're only buying them when they're down or are at least on their way up by the time their dividend is scheduled to pay out, this way you're getting a small amount of gains from appreciation but also the guaranteed dividend cash. The Notice imposes certain reporting requirements upon regulated investment companies that have excess inclusion income. What Is Lock In Profits? Leverage Risk. Restricted and Illiquid Securities Risk. Emerging market countries also may have less reliable custodial services and settlement practices. William F. The Funds have similar overall investment objectives. As a result, the Fund may hold a smaller position in a Portfolio Fund than if it were not subject to this restriction. Investing in MLPs involves certain risks related to investing in the underlying assets of the MLPs and risks associated with pooled investment vehicles. Stockholders where to put money if i leave the stock market stock to invest in now usa advised to consult their own tax advisors with respect to the particular tax consequences to them of an investment in a Fund. Investing in the financial services sector includes the following risks:. For those who are curious — typically the need to compute your income for part of the year might arise due to death; divorce; marriage; other contractual issues; s-corp.
As a result of the Merger and on the Closing Date:. Investing entails ura etf tradingview tom preston thinkorswim, and there can be no assurance that Parametric and its affiliates will achieve profits or avoid incurring losses. Each Fund may make one or more of the elections available under the Code which are applicable to straddles. If a percentage restriction set forth below is adhered to at the time a transaction is effected, later changes in percentage resulting from any cause other than actions by the Fund will not be considered a violation. Following deregulation of the energy markets in certain states, a number of companies have engaged in energy trading and incurred substantial losses. This big jump on the charts will offset the ill effects of time decay more on that laterand ensure you can collect your gains before the option expires. Financial Highlights for RTU. A Fund may decide that this risk outweighs the likelihood of achieving the desired reduction to volatility in income and share price if the prediction were to turn out to be correct, and determine not to reduce or increase leverage as described. I'm new to this, so I may be wrong. Additionally, each Fund pays State Street Bank and Trust Company as sub-administrator under a fund accounting and administration agreement. Reasons for the Merger and Board Considerations. Wash, rinse, repeat. But I found that covered calls for dates that line up a few days after the dividend pay date, a month or 2 ahead works. Dividends designated by a Fund and received by corporate stockholders of that Fund will qualify for the DRD to the extent of the amount of DRD qualifying dividends received by that Fund from domestic corporations other than REITs for the taxable year. Officers of the Funds. In the past, electric utility companies, in general, have been favorably affected by lower fuel and financing costs and the full or near completion of major construction programs. Coinbase unable to buy bitcoins why how to exchange electroneum to bitcoin Funds may, but are not required to, use various strategic transactions described below to seek to generate total return, facilitate portfolio management and mitigate risks.
About Schaeffer's. Name of Person, Position. Anti-dilutive effect of common share offering. Real estate companies may be highly leveraged and financial covenants may affect the ability of such companies to operate effectively. Proxy Voting Policies. Money market instruments in which each Fund may invest its cash reserves will generally consist of obligations issued or guaranteed by the U. The yields available from investments in real estate depend on the amount of income and capital appreciation generated by the related properties. Ratio of expenses to average daily managed assets net of expense reduction f,h. Each outstanding full and fractional share of Fund Common Stock as defined in paragraph 2. However, there are no limits on the rate of portfolio turnover, and investments may be sold without regard to length of time held when, in the opinion of the Investment Manager, investment considerations warrant such action. Certain segments of this industry and individual companies within such segments may not perform as well as the industry as a whole.
Investing entails risks, and there can be no assurance that Parametric and its affiliates will achieve profits or avoid incurring losses. Mortgage REITs, which invest the majority of their assets in real estate mortgages, derive their income primarily from interest payments. The Proxy Administration Group is responsible for maintaining this documentation. I'm not sure if this is at all actually feasible but I'd like to hear other thoughts on this. Or you may indicate your voting instructions on the enclosed proxy card, sign and date it, and return it in the envelope provided, which needs no postage if mailed in the United States. The rating agencies are taking a closer look at the business profile of utilities. Accordingly, the Funds cannot assure you that the use of leverage would result in a higher yield or return to common stockholders. If a Fund enters into a closing transaction, the difference between the premium received and the amount paid to close out its position is short-term capital gain or loss. Depending on the nature of the material conflict of interest, the Proxy Committee, in the course of addressing the material conflict, may elect to take one or more of the following measures, or other appropriate action:. Portfolio Managers of the Funds. The Investment Manager contractually agreed to waive a portion of its investment management fee for each of the Funds, as follows:.